US Stock Market Move | Verve Therapeutics (VERV.US) soared nearly 75% in after-hours trading, reportedly close to receiving a $1.3 billion acquisition offer from J&J.

According to reports from the media on Monday, Eli Lilly (LLY.US) is in-depth negotiations to acquire the gene editing startup Verve Therapeutics (VERV.US), with the deal amount potentially reaching up to $1.3 billion. This move is aimed at strengthening its pipeline for experimental drugs. The deal could be announced as early as this week, provided that negotiations proceed smoothly. As of the time of writing, Verve Therapeutics' stock price surged 74.8% after hours. The pharmaceutical company's acquisition offer includes an initial payment of nearly $1 billion for the acquisition of Verve Therapeutics, as well as an additional $300 million based on the achievement of certain clinical milestones by this gene therapy company. Verve Therapeutics is currently developing a gene therapy aimed at lowering high cholesterol levels, which is expected to be used in combination with other drugs.